05/26/1982 Meeting - Laserfiche WebLink

Home Browse Search

e " Mr. Coombs said that staff recommended that the council accept the purchase agreement with First Interstate Bank at an interest rate of 9 percent, with a discount of $38,867, which translates to a net interest cost of 9.66 percent. He said that this net interest cost compared favorably with other negotiated sales. Mr. Coombs said that Mike Shangle of First Interstate was present to respond to questions from councilors. Mayor Keller noted that, in the event that the vote of the council was tied on this matter, he would abstain from voting due to a potential conflict of interest. Res. 3671--A resolution authorizing sale of warrants in the amount of $3,886,711. Ms. Schue moved, seconded by Ms. Smith, to adopt the resolution. Roll call vote; motion carried unanimously. X. EUGENE PRIME INDUSTRY COUNCIL/CETA PROGRAM--STATUS REPORT (memo distributed) Mr. Whitlow introduced Gary Long, Administrative Services Director. Mr. Long said that two years ago the council had decided to have the City become aCETA prime sponsor. He reported that the City program had been under way for only five months when it experienced a 50 percent budget cut and was legally required to reorganize its operating structure and program. e Mayor Keller left the meeting. Council Vice President Schue assumed the chair. Mr. Long introduced Ray McIver, Chairperson of the Eugene Private Industry Council (EPIC), to discuss the progress of the CETA program to date. Ray McIver, 2540 Snelling, noted that Rich Cook, Vice Chairperson of EPIC was also present. Mr. McIver said that in its work EPIC had addressed the economic diversification, destination point activity, and small business assistance elements of the City's Six Point Program for Economic Diversification. He reported that to date 720 people had been placed in unsubsidized employment through the City CETA program. Mr. McIver was pleased with the public/private partnership of EPIC. He noted that, in response to a telephone call from the White House, EPIC members would be meeting to develop unsubsidized private- sector summer jobs for youth. Mr. McIver said that CETA staff had done an excellent job with Eugene's program. e Mr. Long introduced Doug Booth, Eugene CETA Director. Mr. Booth used three bar graphs to illustrate the performance record of the Eugene CETA program and to compare the results of Eugene's program with those of Lane County and CETA Region X program averages. He said that the entered employment rate for the Eugene program for the past Federal fiscal year was 69 percent, as compared with 41 percent for Lane County and 47 percent for Region X. He said that the cost per placement for Eugene was $3,999 and $5,000 for Region X. Mr. Booth said that there had been good cooperation between the public and private sectors in MINUTES--Eugene City Council May 26, 1982 Page 11